1995 F250 not starting

[glennmerkel]

Hopefully someone here can help. I have a 95 with about 130,000 miles on it. Just a few days ago out of the blue it wouldn't start. With cranking and the hood open, I could see smoke coming out of the engine bay. The connector going into the valve cover gasket on the forward connector on the drive side was found to be melted. I changed the connector and the valve cover gasket. The connector inside the valve cover looked totally fine so I didn't change it. Put it all back together and tried cranking it and it wouldn't start. A couple of more tries and it fired up and ran for about 5 minutes and then quit. I had a new CPS so I put that in and it still wouldn't fire. I decided to check the fuel filter which was completely filthy. I was shocked at how bad it was since I change the oil and fuel filter regularly. It was like a black sludge on it. Changed the fuel filter and still nothing. Decided to bleed the regulator on the side of the fuel bowl and after a couple of attempts, it fired up. It ran for like 45 minutes and then just quit. After that it has kicked over and ran for a few seconds and that it is. The tach is jumping around while I'm cranking it and the oil pressure is coming up. There is white smoke coming out the tailpipe. I checked the HPOP reservoir and it is right up to the top. I checked fuses and all are fine. I'm really stumped at this point. I know it has to be getting fuel if it ran for 45 minutes. My next course it to change out the wiring harness inside the valve cover for the one that I replaced externally. Anyone's thoughts would be greatly appreciated. Thanks.